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Categories:Investments

Henderson staff review could result in redundancies

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Henderson is conducting a review of staffing levels following its acquisition of Gartmore which could result in redundancies.

Henderson took over New Star in 2009 and acquired Gartmore in April this year. The review is taking place across all business operations.

A spokesman for Henderson says: “As we highlighted in our Q3 update, we are taking additional steps to manage costs. So following the successful integration of Gartmore we have reviewed our business structure to ensure that we have the right capabilities, with the right resources in the right places to meet anticipated client demand. This means that some roles will be put at risk and whilst this is not pleasant for anyone, we need to position the business for long term growth. Until we have spoken with people affected it is improper to say anymore than this.”

Earlier this year, Henderson discretionary account manager Kevin Lloyd was made redundant after six years at the business and has since moved to Franklin Templeton.

Henderson employs around 930 people worldwide. It runs £22.6bn of retail and institutional funds under management, as at the end of September 2011, according to statistics from the Investment Management Association.

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